- Analytics
- News and Tools
- Market News
- Oil extended losses
Oil extended losses
Oil extended losses, falling below $100 a barrel after the U.S. Energy Department reported an unexpected increase in inventories.
Supplies rose 1.34 million barrels to 336.1 million last week, the Energy Department said today.
Crude oil for January delivery fell $1.26, or 1.2 percent, to $100.02 on the New York Mercantile Exchange. The price, which was $101.06, slipped as low as $99.92 after the report. Yesterday, the contract added 29 cents to $101.28, the highest settlement since Nov. 16.
Oil also fell after a German official raised doubts that there will be an agreement at the European summit this week. Futures fell 0.6 percent as Germany rejected proposals to combine the current and permanent euro-area rescue funds and Chancellor Angela Merkel’s government said it was more pessimistic on the meeting’s outcome.
Germany will oppose any attempt to change an agreed sequence in which the permanent European Stability Mechanism will take over from the current rescue fund at an appointed time, a German official told reporters in Berlin today on condition of anonymity because the negotiations are private.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
